Starting a Side Business

Sound Money Tips pointed me to a post at Achieve-IT! about diversifying your investments by starting a side business. This post was of especially interesting to me because Mrs. RS has recently started a side business. The post makes a point of explaining that there is a difference between a side business and a small business that I think is important to note. He writes that "A side business is something you can do to occupy your nights and weekends, where a small business would likely take more of a time commitment (i.e. restaurant or storefront)."

Brad at Achieve-IT! gives 4 reasons to consider starting a side business.

1. A side business gives you independence and self-esteem you normally can’t get working a 9-5 job.
2. A side business diversifies your investments.
3. A side business is a wise use of your free time.
4. A side business is a great education.

I think that these are some great reasons and I would also add that it can be enjoyable. Mrs. RS is doing something that she enjoys, so it doesn't even seem like work. She isn't pulling in much money (yet...), but she enjoys it, so it doesn't matter.

Tags:

• Financial_Planning
• Career